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Old 04-08-2004, 08:54 AM   #1
chukzombi
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Default Jobless Claims Lowest Since Jan. 2001

Jobless Claims Lowest Since Jan. 2001

Thursday, April 08, 2004

WASHINGTON — The number of Americans filing initial claims for jobless aid dropped sharply last week to the lowest in more than three years, the government said on Thursday in a further sign of a reviving employment market.



First-time claims for state unemployment insurance fell 14,000 in the week ended April 3 to 328,000 — the lowest level since just before President Bush (search) took office — from 342,000 the prior week, the Labor Department (search) said.

The unexpectedly large drop in claims likely will garner close attention both at the Federal Reserve (search) and the White House.

The drop in claims far exceeded forecasts by Wall Street economists who had predicted a decline of just 2,000. The Labor Department said last week's weekly level of jobless claims was the smallest since 320,000 in the week of Jan. 13, 2001.

Last week, the government reported a sharp surge in new jobs during March with 308,000 positions added to payrolls, and the decline in jobless claims adds to evidence that hiring conditions may be on the upswing after a long drought.

The apparent pickup in employment may also hasten an end to a long era of low interest rates, which saw the Federal Reserve cut its key lending rate for overnight loans between banks to a 1958 low. The Fed regularly cites its concern about slack labor markets as a reason for keeping rates low, though the recent jobs data suggest the slack is being taken up.

Weak hiring has been a hot issue in the campaign for November's presidential elections, with Democrats highlighting the overall loss of jobs since Bush took office while administration officials maintain an economic upswing will soon give rise to job growth.

The Labor Department's four-week moving average of new claims, which irons out weekly fluctuations, declined 3,250 last week to 336,750 - the lowest since 335,750 in the week of Nov. 25, 2000.
This is pretty big news, though it probably took second string to the even bigger Condy Rice testimony
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Old 04-08-2004, 09:18 AM   #2
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Bout time. With the expansionary fiscal and monetary policies we've been doing over the last 3 years, you'd think this would have come a lot sooner. This type of thing historically happens right before an election anyway. I wouldn't be surprised to see a slight inflationary gap following the election.
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Old 04-08-2004, 09:26 AM   #3
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With respect Chuk, I find your subject title misleading (maybe it's a UK/US thing)?

At least to me, 'Jobless claims falling' suggests that unemployment has fallen; when actually it is only the rate at which it was rising that has slowed.

The number of Americans filing initial claims for jobless aid dropped
That said, it is good news and I hope the situation continues to improve.
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Old 04-08-2004, 09:36 AM   #4
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With respect Chuk, I find your subject title misleading (maybe it's a UK/US thing)?

That was the title of the article on Fox News
http://www.foxnews.com/story/0,2933,116527,00.html
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Old 04-08-2004, 09:50 AM   #5
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Ahh. I guess it's a more positive spin for the story; at least better than
Only 20,000 (net) Americans lost their jobs last week!.

Who says the media are always negative?!
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Old 04-08-2004, 11:13 AM   #6
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Who says the media are always negative?!
I do Sakkath. You got a problem with that??






heh.



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Old 04-15-2004, 04:44 AM   #7
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the yoyo continues...new jobless claims are 360,000 for the last week.
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Old 04-15-2004, 05:52 AM   #8
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Because many people simply GAVE UP looking after fooking THREE YEARS.
But, a true right winger doesnt care about such little niceties.
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Old 04-15-2004, 02:45 PM   #9
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Meh it's all propaganda and we're eating it up like sheep at a feed trough.

Here's the newest data
http://www.msnbc.msn.com/id/4748744/

Text:

Jobless claims jump by 30,000
Weekly benefits applications rise from 4-year lowThe Associated Press
Updated: 10:30 a.m. ET April 15, 2004

WASHINGTON - The number of Americans filing new claims for unemployment benefits, after having fallen to the lowest level in four years, shot up last week by the biggest amount since late 2002. The new report dealt a setback to hopes that the economy is finally beginning to produce a sustained recovery in jobs.

The Labor Department reported Thursday that the number of newly laid-off workers filing claims for unemployment benefits jumped by 30,000 last week to a seasonally adjusted level of 360,000.

The increase was far above the rise of 7,000 that economists had been expecting, but analysts cautioned against reading too much into a single week's change in the volatile series. Labor Department analysts noted that the period covered was the first week in a new quarter, a time when the jobless claims can be even more volatile.

The four-week moving average for new claims, viewed as a better gauge of trends because it smooths out some of the volatility, was up by a smaller 6,750 to 344,250, the highest level since early March.

Economists are hoping that the strong economic growth that began last summer will finally convince businesses to begin rehiring laid-off workers, something that President Bush and other incumbents running for re-election are also hoping to see as evidence that the nation's long jobs slump is finally coming to an end.

The biggest sign yet that the labor market has finally turned the corner was the news that 308,000 payroll jobs were created last month, the biggest gain in four years.

Even with that increase, the nation's unemployment rate rose by a tenth of a point to 5.7 percent as the improving jobs picture encouraged people who had dropped out of the labor market to come back and resume looking for work.

The 330,000 Americans who filed for jobless benefits last week represented the largest number since early February.

The increase of 30,000, after a decline of 13,000 the week before, was the biggest one-week jump since a rise of 42,000 in the week of Dec. 7, 2002, a time when the economy was still struggling to rebound from the 2001 recession.

The rise in unemployment claims came as economists were beginning to worry that signs of a strengthening economy and a worrisome inflation report might prompt the Federal Reserve to begin raising interest rates to slow things down beginning as early as this summer.

Before Wednesday's report that consumer prices had jumped by 0.5 percent in March, many analysts believed the central bank might be content to keep rates on hold at a 45-year low of 1 percent until after the November presidential election.
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Old 04-15-2004, 05:46 PM   #10
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Where is the good news from the liberal propaganda media?
Do they ever report good economic news?
Good news about President Bush?
Any good news about anything?

Sheesh, no wonder you Dem supporters are so depressed.

The 330,000 Americans who filed for jobless benefits last week
represented the largest number since early February.
Last week? Nice how they slipped that in. Talk about disinformation.
But hey, ya'll dems live fer bad neuws. If not for yer tears da rivers wouldn't be flowin.




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Old 04-15-2004, 08:36 PM   #11
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Originally Posted by Chiteng
Because many people simply GAVE UP looking after fooking THREE YEARS.
But, a true right winger doesnt care about such little niceties
Chiteng please tell me how a person survives if unemployed for 3 years. Are you saying all those people are homeless now? I don't buy your assumption that thousands of people have been unemployed for 3 years. On the other hand if your calculations are correct a person has to be pretty frigging lazy or not hungry enough if they stay unemployed 3 years. It's not an issue with right wingers because we know it's bullshit.
It's not that we don't care, it's we don't believe the numbers reflect accurately.
Most people comfortable with unemployment do in fact start looking hard and heavy when their unemployment runs out and the majority find employment somewhere.
Keep trying Chiteng.
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Old 04-15-2004, 09:27 PM   #12
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Caelie123,
Chiteng is 50 and still living with his parents. Can we give him a break already?

He's been through enough. It's taken him 35 years of hell waiting for his
parents to die so he finally doesn't get bitched at to get a job by his mother.

Caelie123, your not being sensitive like a liberal shou, er conservative should be.
They (Liberals) keep changing the rules, who knows where they stand.

Say, Chiteng? Hows your yard? *HAH*




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Old 04-15-2004, 10:23 PM   #13
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My father was unemployed for about 3 years, up until 2001. He collected an unemployment check (not even enough to cover his phone bill ), squeezed every penny, but he didn't even need to sell the house, and managed to maintain a semblance of a normal life. It got him into pretty deep debt though, and ended up taking tough jobs with low pay. I'm surprised he got through it so well at his age.

Point is, it's possible to survive, even if it's really shitty to have to go without work for that long.
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Old 04-15-2004, 11:36 PM   #14
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Originally Posted by AresProphet
My father was unemployed for about 3 years, up until 2001. He collected an unemployment check
He collected unemployment for 3-years? Not in the USA he didn't.
Your not doing your father any favor's by saying he was ever unemployed.
Show some respect. Do you even know who your father is?

Check your facts, then come back later to spin more of your BS for us.
We're starving for entertainment from people (kids) like you.




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Old 04-16-2004, 03:55 AM   #15
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Originally Posted by AresProphet
Point is, it's possible to survive, even if it's really shitty to have to go without work for that long.
Oh there's no doubt in my mind that people do survive unemployment for 3 years, but I would venture to say that most of those people have saved for a rainy day.

If one was to take their unemployment check and supplement it with some of their savings each month along with doing some odd jobs here and there for cash they could survive quite nicely. Well maybe not nicely, but they could tighten up and not loose anything.

My opinion wasn't for the ones that basically choose to remain unemployed for 3 years, but aimed at Chitengs claim that thousands of people in America have been unemployed for 3 years because they can't find work.

When a person gets desperate or hungry enough there are jobs to be found. When responsible people get hungry or face the fact that their family may be living in a box shortly, they do what needs to be done. They relocate or possibly work 2 jobs for awhile till they can land the job making what they were making when they were laid off.

He likes to claim that conservatives aren't concerned with people that have been unemployed for 3 years. I will go out on a limb and say that most people conservative or liberal aren't concerned with these (long term) unemployed people because we know how the human brain works when it comes to survival.
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Old 04-16-2004, 05:07 AM   #16
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Sounds to me like you think that if someone cannot find a job in three years they should quietly die, and remove the surplus population. How very Scrouge
of you.
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Old 04-16-2004, 05:16 AM   #17
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Originally Posted by Chiteng
Sounds to me like you think that if someone cannot find a job in three years they should quietly die, and remove the surplus population. How very Scrouge
of you.
Nope, that would be their choice. Sounds to me like I am saying is someone cannot find a job in three years they need to go to Plan B. Plan B meaning "damn, I really need to get off my lazy ass and find a job".

My husband got laid off about 5 years ago and he was making about 75,000 a year. He sent out resume's which took about an hour or two a day and the rest of the day I assume he piddled. I actually think he got pretty comfortable with my salary, his unemployment check and our savings.

One day I said "you need to get your ass out and find a job and I don't care if it's scrapeing shit off the commode seats at Burger King, but we're not taking another dime out of savings". I was fed up. I never thought about blameing it on the Clinton Administration. Within two month's of seriously job hunting, he was employed and making 60,000 a year.

He admit's now that he was kinda enjoying not getting up and going to work everyday and somewhat took advantage of the situation.

I blame you for allowing your spouse to be unemployed as long as she was.
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Old 04-16-2004, 05:43 AM   #18
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Sounds to me like you think that if someone cannot find a job in three years they should quietly die, and remove the surplus population
Or maybe they should consider a career change. Pre-Antidelluvian Sebaceous gland laser technologists may be in low demand.

And it helps to leave the house more than once a month and actually ask for a job..

they don't tend to show up at your door...
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Old 04-16-2004, 09:08 PM   #19
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No, my father was unemployed for 3 years because he could not find a job. He isn't in a specialized field either; he's done everything from working for claims adjusters to managing banks to something involved with corporate insurance. Mostly it involves finance, in a very general sense.

And no, he didn't collect an unemployment check for all 3 years. I didn't say that either, I said "he collected an unemployment check".

The irony is that the first job he was able to get was menial labor, testing emissions on cars; he guessed that about half his "coworkers" were illegal immigrants from Mexico. Don't ask how he guessed that, as I'm not too sure. Language skills (or lack thereof) maybe.

Again, my whole point is that people can survive when unemployed for 3 years. Neither did my father have a "rainy day fund", considering that two of his children were approaching college at the time.
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